Ingleside Duplex with
For Sale
$284,500
2116 Zephyr Circle, Ingleside, TX 78362
MULTI_FAMILY - Ingleside, TX
Property Size1,932 SF
Lot Size0.18 Acres
Price / SF$147.26
Days on Market94
Property Features for 2116 Zephyr Circle
General Information
Property type
Residential Multi Family
Property subtype
Other
Interior features
PrimaryDownstairs, CableTv, CeilingFans
Appliances
Dishwasher, Disposal, Microwave
Subdivision
Ingleside-Belaire Park
Lot features
Interior Lot
Elementary school
Ingleside
Middle school
Ingleside
High school
Ingleside
Elementary school district
Ingleside ISD
Middle school district
Ingleside ISD
High school district
Ingleside ISD
Standard status
Active
APN
37283
Size
1,932 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
BELAIRE PARK BLK 3 LOT 11
Tax Annual Amount
4930
Legal Description
BELAIRE PARK BLK 3 LOT 11
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1970
Floors in Building
1
Number of units
1
Flooring type
Tile
Roof type
Shingle
Listing Agency:
Vaden MacLeod Real Estate
(361) 523-1494
Listed By:
Autumn MacLeod · License #0609498
(361) 523-1494
Added: May 21
Changed: Jul 12
Last Checked: Aug 22 at 11:06PM
MLS# 476815
Copyright © 2026 South Texas Multiple Listing Service, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained duplex is located in Ingleside, Texas. It features two spacious units, each with 2 bedrooms and 1 bathroom. This property presents a versatile opportunity for owner-occupants looking to live in one unit and rent out the other, or for investors aiming to add a high-demand rental to their portfolio in an area with limited availability. Each unit includes a private yard and carport. Modern conveniences include a fully equipped kitchen with a built-in dishwasher, microwave, and refrigerator, as well as washer and dryer connections, and a wood-burning fireplace. The property is ideally located near Live Oak Park, local schools, and major industry employers. The property size is 1932 square feet and the lot size is 0.18 acres.
Key Highlights
- Well‑maintained 2‑unit duplex built in 1970, offering two 2‑bedroom, 1‑bath units
- Each unit has a private yard and its own carport
- Fully equipped kitchens include built‑in dishwasher, microwave, and refrigerator
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,858
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.28%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$357,160
$357.2K
Cap Rate 7%
$255,114
$255.1K
Cap Rate 9%
$198,422
$198.4K
Market Conditions
NOI Build-Up for 1,932 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$29.0K $15.00/SF
− Vacancy
−$3.5K −$1.80/SF
EGI
$25.5K $13.20/SF
− OpEx
−$7.7K −$3.96/SF
NOI
$17.9K $9.24/SF
Area
San Patricio County, TX
Vacancy
11.97%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$357,160
Cap Rate 7%
$255,114
Cap Rate 9%
$198,422
Alternative Uses
Best Use
Multifamily LT 5
$255.1K
$223.2K – $297.6K
NOI $17,858 @ 7.0% cap · market cap 6.28%
Second Best
Apartment 5plus
$226.1K
$197.8K – $263.8K
NOI $15,825 @ 7.0% cap · market cap 5.56%
Theoretical Best
Hotel Hospitality
$991.1K
$867.2K – $1.16M
NOI $69,378 @ 7.0% cap · market cap 24.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
40
Businesses Nearby
Explore this area
Business Placement
Demographics for 78362, TX
10,238
Population
4,701
Households
2.2
Avg Household Size
36
Median Age
21%
College-Educated
86%
High-School Grad
18.3 sq mi
ZIP Area
559
Density / Sq Mi
$78,698
Median Household Income
$41,240
Median Earnings
$1,226
Median Rent
$182,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex in Ingleside with private yards and carports.
Where is this duplex located?
The property is located at 2116 Zephyr Circle Ingleside, TX.
What is the asking price?
The asking price for this property is $284,500.
What are key features of this property?
This property features: Well‑maintained 2‑unit duplex built in 1970, offering two 2‑bedroom, 1‑bath units; Each unit has a private yard and its own carport; Fully equipped kitchens include built‑in dishwasher, microwave, and refrigerator
